2122 6th Ave - Apartments FOR SALE


Los Angeles, CA 90018
$1,325,000 USD
213-943-1897
2122 6th Ave, Los Angeles, CA for Sale
$1,325,000 USD
Apartments - FOR SALE
1/7
null | 5.89% Cap Rate

2122 6th Ave
Los Angeles, CA 90018


HIGHLIGHTS

  • New Ownership May Convert Office and Storage Into ADUs, Offering Potential for Future Growth and Appreciation – Buyer to Verify
  • All Units Have Washer/Dryers. 60% of Units Upgraded With New Appliances, Granite Countertops, Refinished Floors, Bathroom Tiling & More
  • Bordering the Rapidly Gentrifying West Adams & Arlington Heights Sub-Markets, Which Have both Seen an Influx of New Developments and Nightlife
  • Located in a Gentrifying Pocket of LA With a Walk Score of 84 – Convenient Access to Employment, Retail, and Entertainment in Mid-City & Koreatown
  • There is 20 Percent Remaining Rental Upside Through Interior Renovations to the Remaining Units
  • Current Ownership Has Attentively Maintained the Property

OVERVIEW

DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 2122-2124 6th Avenue. The subject property is located just south of Washington Boulevard bordering the desirable West Adams neighborhood to the south and the Arlington Heights sub-market to the north. Situated on a 7,508 square foot parcel, the property is comprised of four one-bedroom units and one three-bedroom unit. All units have in-unit washer/dryers & 60% of the unit interiors have been upgraded with new kitchen appliances, granite countertops, re-finished original hardwood floors, bathroom tiles & unit 2124 has central AC. There are five on-site garages, two of which are not leased & one garage is being used as an office/bonus room by one of the tenants for additional income. The office/bonus room and empty storage unit can both potentially be converted into attached ADU’s (Accessory Dwelling Unit) – Buyer to verify. The continued gentrification of the surrounding area along with a strong value-add component of the deal makes 2122-2124 6th Avenue an excellent investment opportunity poised for long term healthy returns.

FOR SALE DETAILS

PRICE

$1,325,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

5

PRICE/UNIT

$265,000

CAP RATE

5.89%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A 5-Unit Apartment in Arlington Heights

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1918

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,508 SF

ZONING

RD2

APN/PARCEL ID

5060-024-020

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.